Chinese personalized news recommendation app operator Toutiao is reported to have raised a new funding round of over US$2 billion, led by American private equity firm General Atlantic.
Sequoia Capital and CCB International, an investment unit of China Construction Bank Co., have led a series D investment of around US$1 billion in Chinese personalized news recommendation app operator Toutiao. While exact figures are not yet available, the deal would make Toutiao China’s biggest media company in terms of valuation.
Toutiao, a Chinese personalized news app backed by Sequoia Capita, has hired former assistant managing director of Microsoft Research Asia Ma Wei-Ying as vice president to manage its artificial intelligence lab, according to Chinese media reports.
Chinese personalized news app Toutiao, backed by Sequoia Capital, Weibo and SIG China, has acquired U.S.-based video sharing platform Flipagram to expand its video content and grow its U.S. market presence.